Haven't seen this stock before. Green engulfing, recent gap ups, volume spike, back above 20ma. Would watch for a gap up tomorrow. Anybody know anything about this one?
NYSE:FTI
- FTI has been trading sideways for months
- The stock is now approaching the upper end
- MACD sloping up
- RSI still room to go - not overbought
- Golden cross took place
As noted on the chart, the stock is within range of getting through major resistance at 10.47-10.65. Doing so, puts the stock in a position to gain 25-30%.
Trade-Rite or don't trade at all.
Today, we will share a long setup we are waiting for on FTI. Here you will see a full explanation of it
A) The price broke a descending channel. That is considered a weakness of the bearish trend
B) Currently, we can see a corrective structure, finding support on the broken Descending channel ( Throwback: Meaning a retest of a broken structure)
C) IF the...
Today we have a short setup on Stocks.
Main items we can see on the chart.
a) The price is on huge lateral movement since March 2020
b) We can see 2 key support levels on the lateral movement
c) Currently, the price is on the edge of the inner support zone
d) There, we can see a clear corrective structure (yellow lines)
e) The next relevant level...
FTI has been in the pre-market trading activity for several days. This can often lead to a sudden momentum action. Oil stocks tend to react to crude oil commodity pricing which has recently been in a speculative mode.
Very nice pattern broken on daily chart.
Weekly chart analisis:
Some fundamental information from public source:
MC Technologies designs, manufactures and services systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems...
FMC Technologies, Inc. provides technology solutions for the energy industry worldwide. Its Subsea Technologies segment offers subsea systems for the offshore production of crude oil and natural gas, as well as installation and workover tools, service technicians for installation assistance, and field support for commissioning, intervention, and maintenance of its...
